After difficult negotiations due to American pressure on climate and gender, World Bank governors approve IDA21 document, embedding the Bank’s problematic private sector-led development approach and failing to integrate economic transformation or binding human rights obligations.
US Treasury Secretary Scott Bessent indicates US will stay in the Bank and Fund, claiming “America First does not mean America alone,” as tariffs and rising debt vulnerabilities prompt gloomy forecast.
The South African G20 Presidency failed to issue a communiqué and opted not to issue a Chair’s statement at the IMF and World Bank Spring Meetings as the US administration’s explicit hostility to multilateralism significantly decreases the potential for consensus across all multilateral fora.
Faced with deafening silence from Bank and Fund leadership on climate issues at the Spring Meetings, climate vulnerable countries demand urgent changes to global financial architecture.
The role of Bretton Woods Institutions remains a key point of contention, amidst their stark governance deficits.
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
US conservative blueprint for second Trump term calls for US to withdraw from World Bank and IMF, amid continued geopolitical tensions and unresolved debt crisis in Global South.
The unfolding debt crisis threatens IDA’s support for 75 low-income countries, without replenishment of grant resources.
Donald Trump’s election may result in a revision of World Bank’s long-standing prohibition of support to nuclear power.
New financing for the IMF and World Bank proposed by the US will not fix the flawed private sector development paradigm that burdens Global South economies with debt.
IMF managing director continues to refuse to answer letter from UN Human Rights Council concerning the negative impact of IMF surcharges as world celebrates 75th anniversary of Universal Declaration of Human Rights.
Over 250 civil society experts urge the IMF to eliminate its punitive surcharges on countries in debt distress as they undermine an equitable economic recovery and exacerbate the global debt crisis.
Notes from the Civil Society Policy Forum session on 6 October on the governance and resourcing implications of IMF's surcharges.
Notes from the Civil Society Policy Forum session on 4 October on the ways to maximise the impacts of the recent allocation of $650 billion Special Drawing Rights.
Civil society voices concern about continued support for fossil gas under the policy.
World Bank President comes out against temporarily waiving intellectual property rights on Covid-19 vaccines
